CleanSpark (NASDAQ:CLSK) stock is a hot topic on Wednesday after Bernstein analysts heaped praises on Bitcoin (BTC-USD) mining companies today.

This positive sentiment comes as the crypto prepares to undergo a halving later this week. That will cut the rewards from mining BTC tokens in half. While that might seem like bad news for Bitcoin miners, Bernstein says otherwise.

Chief to note here is that Bernstein is expecting Bitcoin to undergo a massive rally after the halving. This has the firm predicting the coin could reach $150,000 by 2025. If that happens, it could be good news for companies that mine BTC.

Adding to this is Bernstein noting that Bitcoin mining companies have fallen behind recently. It points to the recent rally in BTC and spot exchange-traded funds (ETFs) as a reason for this. However, it predicts mining stocks will recover with the crypto rallying after the halving.

Here’s a portion of what that Bernstein note says, according to CoinDesk:

“The CEO of CleanSpark expects the industry to consolidate to 4 leading miners and believes RIOT, MARA, CLSK and CIFR to be in the lead […] [The] CEO of MARA also highlighted a path to industry consolidation and named CLSK as their arch competitor in the race for acquisition targets.”

How This Affects CLSK Stock Today

Even with the latest note from Bernstein, shares of CLSK stock are still down nearly 1% as of Wednesday morning. However, the stock could bounce back from this once the halving is complete.

Trading activity for CLSK stock is low today at just about 6.6 million shares. Its daily average trading volume is about 36 million units.

Investors will find more of the most recent stock market stories ready to go below!

We are offering up all of the latest stock market news worth reading about on Wednesday! Among that is what has shares of ASML (NASDAQ:ASML) stock, Riot Platforms (NASDAQ:RIOT) stock and airline stocks in the news today. All of this info is available at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.